×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Moscow Tops List for World's Fastest-Growing Luxury Rental Prices

Denis Abramov / Vedomosti

Moscow has the world's fastest growing prices for luxury rental property, a study published Wednesday has revealed.

The Prime Global Rental Index by real estate consulting firm Knight Frank charts price rises in the top 5 percent of most expensive properties in 17 of the world's major cities.

The study showed that the cost of high-end rental properties in the city had grown by 11.1 percent in the last year, with 2.9 percent growth in the last quarter.

In second place was Tokyo, with a 9 percent rise,  and China’s Guangzhou with 4.8 percent.

According to Knight Frank's figures, the average rental price of a luxury apartment between 80 and 150 square meters in Moscow currently stands a 220,000 rubles ($3,440) a month.

Despite a significant slowdown in the Russian economy, "sizable infrastructure investments combined with a recovery in the oil price" had driven the high growth in Moscow's prime rental market, the report said. 

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more